Contents :

Introduction

The Board of Directors of Nextnation wishes to announce that Godynamic Investments Limited, a subsidiary of the Company, had on 30 November 2006 incorporated a wholly-owned subsidiary in the Socialist Republic of Vietnam, namely, Vinamob Venture Company Limited ("VVCL") and the Certificate of Investment was received from Hanoi People’s Committee on 5 December 2006.

Background Information

The intended investment capital is USD100,000 and to be paid within sixteen (16) months from the issuance date of the Certificate of Investment.

The intended business activities of VVCL are research and development of information technology, Internet and wireless Internet; design, produce and provide value added products and services for mobile and information technology.

Directors' and Substantial Shareholders' Interests

None of the Directors of the Company or persons connected to them has any interest, direct or indirect, in the aforesaid matter. The Directors of the Company are not aware of any substantial shareholders of the Company or persons connected to them who have any interest, direct or indirect, in the aforesaid matter.

This announcement is dated 6 December 2006.